UK banks to slash costs in Musk-like cull

BOSSES at Britain's top banks are channelling Elon Musk in a bid to slash costs.

- By Samuel Norman

NatWest's Paul Thwaite, Lloyds's Charlie Nunn, HSBC's Georges Elhedery and Barclays's CS Venkatakrishnan are in the middle of cost-cutting campaigns similar to Musk's Department of Government Efficiency (DOGE) mission.

Musk initially pledged to save $2trillion through mass firings, consolidating agencies and stripping back budgets.

The Tesla chief centred his plans on drastic simplification - a move echoed in the playbook of British bankers as they look to charm investors and boards.